Guideline Value for Leela Vathi Ammal Street

Leela Vathi Ammal Street guideline value

The current guideline value of Leela Vathi Ammal Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Leela Vathi Ammal Street has changed

The guideline value for Leela Vathi Ammal Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 2,000 per sq.ft, and this increased by 10% to Rs 2,200 per sq.ft in 2024.

Prior to the 2023 revision, there were no recorded figures for this street in the guideline value register. The significant change from 2023 to 2024 reflects a rise in the guideline value, indicating adjustments made by the authorities.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, and Leela Vathi Ammal Street's 2024 figure is below that median.

• L.G. Nagar: Rs 2,200 per sq.ft (2024)
• L.G. Nagar Main Road: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• L.I.C. Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Leela Vathi Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Leela Vathi Ammal Street?

The Sub Registrar Office that covers Leela Vathi Ammal Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process for property transactions in Madipakkam-1. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

When buying or selling property, it is crucial to be aware of the current guideline value, as it can impact the overall costs involved in the transaction. Buyers and sellers should consult the guideline value register to understand the applicable rates for their specific property.

Frequently asked questions

What is the current guideline value of Leela Vathi Ammal Street?

The current guideline value of Leela Vathi Ammal Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Leela Vathi Ammal Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

What is the land classification for Leela Vathi Ammal Street?

The land classification for Leela Vathi Ammal Street is Residential Class II Type - I.

Where can I find the registration office for this street?

The registration office for Leela Vathi Ammal Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.